Frequent Questions

Can anyone join a New Hampshire credit union?

Yes. Nearly 400,000 people in New Hampshire are already enjoying the benefits of credit union membership. If you are a New Hampshire resident, you probably qualify for membership either through your employer, civic organization or place of residence. For more information about credit union membership opportunities and to see if you are eligible to join an existing credit union, please call the Cooperative Credit Union Association at 508-481-6755.

Why should I get my auto loan at a credit union?

Consumers who finance their vehicles through auto dealerships are charged hundreds of millions and perhaps as much as a billion dollars annually in undisclosed finance markup charges, reports the Consumer Federation of America, Washington, D.C. These hidden markups typically add at least $1,000 to the cost of an auto loan. This takes place when automobile dealers subjectively hike the car loan rates of buyers who arrange financing through those dealers.

This markup practice is encouraged by all of the auto industry's leading captive finance companies and top auto-lending banks and impacts about one in four buyers of new and used cars who finance through the dealership. Marked-up finance rates are determined arbitrarily by the dealer and encouraged by the lender, regardless of the consumer's creditworthiness, with kickbacks to both.

What is the credit union difference?

The Credit Union Difference: Reaching Out to Those in Need. Credit unions are unique in the world of financial institutions. Nowhere is the credit union difference more vivid than in the diverse ways they reach out to millions of low- and moderate-income Americans who seek basic financial services to realize their dreams.

The examples of outreach are heart-warming, and the results are life changing. Some credit unions offer Individual Development Accounts--savings accounts with matched incentives--to low-income members who are saving for a home, education, or small business development. Others offer financial literacy training to members trying to re-enter the workforce, to people who are incarcerated, and to new Americans such as displaced Bosnian refugees.

Building bridges with the Hispanic community is an important goal for credit unions, as well as fostering entrepreneurship through business loans. Credit unions also offer alternatives to lenders who often take advantage of low-income people who are not using mainstream financial institutions. Coupled with financial literacy programs, these individuals are able to build savings accounts and improve financial well being.

Some credit unions offer financial counseling programs as well as programs for area schools, colleges, and universities. Student credit unions operate in many schools, allowing the credit union to work with the resources and needs of the school.

And these are just a few of the many ways credit unions impact small and large communities across the country.